TECH CRUNCH - Instagram will allow users to remix any video content on the app, not just short-form reels videos. The feature lets users record their reels' video alongside a video from another user as a means of interacting, reacting, collaborating, or highlighting other content on any video content.
ENGADGET - Meta is developing ways to create, display and sell NFTs on Facebook and Instagram. The company's Novi wallet technology would power much of the "supporting functionality." Instagram is reportedly testing a way to showcase NFTs, while Meta is also said to be discussing a marketplace that would help you buy or sell these digital collectibles.
PR NEWSWIRE - Yalla Group, the leading voice-centric social networking and entertainment platform in the MENA, announced that the lead plaintiffs in a securities class-action lawsuit against the Company and its CEO voluntarily dismissed the lawsuit. It marks a successful and final conclusion of the lawsuit for the Company. The Company maintained that the lawsuit had no factual basis.
TECH CRUNCH - Workplace, a Meta-owned social network for enterprise employees to communicate with each other, will soon be adding integration with WhatsApp so that Workplace customers can cross-post announcements and share other data with employees using the messaging app.
REUTERS - Twitter must disclose details on what it does to tackle hate speech online in France. The decision provides ammunition to campaigners elsewhere in Europe who want tougher controls to prevent the spread of racist and discriminatory content on Twitter and other social media platforms.
YAHOO FINANCE - DatChat, privacy-focused social media, has signed a Letter of Intent to acquire Avila Security, effectuating the Company to secure four issued patents and two pending applications, subject to customary closing conditions. The transaction terms include $1M in cash and the greater of 739,650 shares of restricted common stock or $2.5M of restricted common stock [of DatChat] based on the previous 30-day average closing share price at closing.
WALL STREET JOURNAL - YouTube folds its effort to create original programming and focuses on the millions of creators who populate the video platform with content. CBO Robert Kyncl said that the platform would invest in live shopping programming, Black Voices Fund, and YouTube Shorts. Its head of YouTube Originals, Susanne Daniels, will exit in March. YouTube Originals will continue limitedly through unscripted children's and another programming.
TECH CRUNCH - ByteDance has dissolved its strategic investment team, sending worrying messages to other internet giants that have expanded aggressively by investing in other companies. Some members from its strategic investment team, which has backed 169 companies, will be reassigned roles in other business departments and continue to invest there. The "restructuring" still stirred up a wave of panic in the industry.
THE MOTLEY FOOL - Tencent would be acquiring Black Shark. Started in 2017 and funded by Xiaomi, Black Shark currently makes gaming-oriented mobile phones and accessories. However, according to a report, Black Shark will be changing its business model to invest in AR/VR headsets after Tencent buys them. According to sources, Tencent pays between $410M to $425M.